Financial Reporting Manager
PRIMARY OBJECTIVE OF POSITION:
To develop and implement all policies, procedures, systems and best practices with regard to financial reporting and inventory accounting, for the purpose of maintaining accurate financial information and safeguarding company assets. To analyze the company's current policies and procedures and identify any deficiencies and inefficiencies, making correctional recommendations and overseeing their implementation.
MAJOR AREAS OF ACCOUNTABILITY:
1. Oversees a team of financial reporting and inventory accounting staff. Engages business partners to ensure processes meet functional area needs and increase efficiency and support team in these critical accounting areas for the business.
2. Oversees the preparation of the monthly and quarterly internal financial statement packets and variance analysis, maintaining the highest quality, reliability, and accuracy. Supervises and participates in the preparation and analysis of departmental financial statements and promptly answers inquiries from department leaders.
3. Enhances, Documents, and Implements controls around financial reporting and help to improve efficiency of reporting. This includes monitoring controls around General Ledger (GL) maintenance to ensure accurate reporting continues.
4. Monitors and enhances current reporting and creates new reporting to increase effectiveness of business decisions and continue to add value to the organization through visualization and accelerate ability to absorb the data by end users.
5. Increases involvement in the determination of reporting needs including increased partnership with Financial Planning & Analysis, Pricing, and other Business Partners to simplify existing reporting and increase new reporting with focus on business needs given ever changing retail environment.
6. Oversees all activities related to inventory. Directs the maintenance of the general ledger inventory accounts and ensures the distribution centers and store inventories are in sync with the general ledger. Researches the cause of discrepancies and ensures corrective action is taken to resolve system and repetitive issues.
7. Partners with the Transportation, Merchandising, and Manufacturing departments and external parties to ensure proper accounting for freight costs, merchandise purchased for resale, and manufactured inventory and related variance reporting. Ensure reporting is sufficient for these departments’ operational needs.
8. Presents reporting analysis to management and internal partners to assist in understanding operational trends in these areas, identify changes that may impact financial statements, and investigate variances for resolution.
9. Establishes controls for new financial systems and develops procedures to improve existing systems. Coordinates testing of new systems with internal and external partners and provides constructive feedback and recommends solutions.
10. Establishes and oversees controls around financial report creation, document retention, and development of new reports. Establish integrity checks to ensure reporting across systems is complete and accurate.
11. Supervises and manages employees as it relates to all projects or related work, establishes performance requirements, clarifies responsibilities of those supervised, conducts performance appraisals and plans for individual employee development.
12. Stays current on new accounting pronouncements and works with the accounting teams to understand, implement, and document compliance with evolving standards.
13. Oversees the preparation of external audit requests and manage communications with the auditors for annual audit requests related to Northern Tool + Equipment.
14. Keeps supervisor informed of important developments, potential problems and related information necessary for effective management. Coordinates and communicates plans and activities with others, as appropriate to ensure a coordinated work effort and team approach.
15. Performs related work as apparent or assigned.
• Bachelor’s degree in accounting or finance is required.
• At least 5 years of related experience is required including experience with computerized Enterprise Resource Planning (ERP) systems. Microsoft Dynamics AX experience is preferred.
• Previous supervisory experience is required. Lead and direct the work of others.
• Broad exposure to all fundamental financial and accounting disciplines including general accounting in accordance with Generally Accepted Accounting Principles (GAAP), substantive account reconciliations, financial statements and financial software including Excel, Word, PowerPoint required.
• Broad exposure to other financial software including Access, BI Reporting Tools, Point of Sale systems, and warehouse management systems preferred.
• Relies on experience and judgment to plan and accomplish goals.
• Supervises and performs a variety of complicated tasks.
• A wide degree of creativity and latitude is expected.
• Ability to communicate effectively, both orally and in writing, with a wide variety of Company personnel and those outside the Company.
• Demonstrates Northern Tool + Equipment’s 12 Core Competencies.